North Copper(SZ:000737)2021-03-09 16:00Financial Performance - The company's operating revenue for 2020 was ¥1,125,455,573.29, a decrease of 7.34% compared to ¥1,214,654,424.56 in 2019[21] - The net profit attributable to shareholders for 2020 was ¥91,375,709.79, a significant increase of 288.14% from a loss of ¥48,569,079.10 in 2019[21] - The net profit after deducting non-recurring gains and losses was -¥24,883,370.44, an improvement of 61.93% from -¥65,354,987.51 in 2019[21] - The net cash flow from operating activities was -¥990,307.10, a decline of 110.79% compared to ¥9,180,339.49 in 2019[21] - Basic earnings per share increased by 288.14% to CNY 0.1665 from a loss of CNY 0.0885 in the previous year[24] - Total assets decreased by 20.26% to CNY 1,255,923,327.61 from CNY 1,575,054,557.07 at the end of 2019[24] - The total profit for 2020 was ¥99,897,440.56, an increase of 402.31% year-on-year[45] - Net profit reached ¥91,837,555.90, marking a 296.01% increase compared to the previous year[45] Revenue and Sales - The chemical industry accounted for 97.93% of total revenue, with a revenue of CNY 1,102,141,379.73, down 3.87% from the previous year[60] - The revenue from the product "Yuanming Powder" was CNY 522,276,629.83, which is 46.41% of total revenue, showing a decline of 21.59% year-on-year[60] - The company reported a domestic revenue of CNY 863,572,952.73, which is 76.73% of total revenue, down 7.77% from the previous year[63] - The revenue from "Barium Sulfate" was CNY 99,432,256.85, contributing 8.83% to total revenue, with a year-on-year increase of 6.45%[60] - The company's sales volume in the chemical industry increased to 166.67 million tons in 2020, a year-on-year growth of 18.94% from 140.13 million tons in 2019[65] Production and Capacity - The production capacity for sodium sulfide is 20,000 tons/year with a utilization rate of 97.00%[52] - The production capacity for barium sulfate is 40,000 tons/year with a utilization rate of 103.25%[49] - The company produced 84.77 thousand tons of "Yuanming Powder" and sold 120.77 thousand tons during the year[64] - The production volume in the chemical industry rose to 129.63 million tons, reflecting a year-on-year increase of 30.27% from 99.51 million tons in 2019, primarily due to increased gypsum production[65] Costs and Expenses - The total operating costs decreased by 7.67% to 886,104,063.64 yuan in 2020 from 959,693,618.32 yuan in 2019[71] - Direct materials accounted for 62.99% of the total operating costs in 2020, amounting to 550,833,966.40 yuan, up from 47.43% in 2019[68] - Sales expenses increased by 2.37% to 112,892,366.21 yuan in 2020, while management expenses decreased by 14.94% to 81,861,137.03 yuan[76] - Financial expenses decreased significantly by 31.93% to 35,510,688.07 yuan, mainly due to a reduction in interest-bearing liabilities[76] - Research and development expenses decreased by 12.44% to 5,828,242.63 yuan in 2020 compared to 6,656,037.45 yuan in 2019[76] Investments and R&D - The company completed 18 patent applications in 2020, including 8 invention patents and 10 utility model patents[40] - The company has a total of 36 valid patents as of December 31, 2020, including 11 invention patents and 25 utility model patents[40] - The company has made significant investments in upgrading technologies, including the MVR evaporation technology and biomass boiler projects, aimed at enhancing profitability and establishing a leading position in the inorganic salt chemical market[77] Strategic Initiatives and Future Outlook - The company plans not to distribute cash dividends or issue bonus shares for the year[5] - The company plans to enhance its financial capabilities and improve operational efficiency in response to market challenges[101] - The company is focusing on the development of new products and technologies to adapt to changing market conditions and consumer demands[101] - The company is exploring market expansion opportunities to mitigate the impact of trade tensions and environmental regulations[101] - The company aims to enhance production efficiency and reduce costs through technology innovation and process improvements[106] Compliance and Governance - The company has highlighted potential risks and countermeasures in its future development outlook section[4] - The company has committed to maintaining independent operations and decision-making rights, ensuring no harm to minority shareholders' interests[122] - The company will ensure that its senior management personnel are exclusively employed by the company and will not hold positions in its controlling shareholders[145] - The company will comply with all legal procedures for related transactions, ensuring fairness and transparency[140] Subsidiaries and Contributions - The total assets of the subsidiary Nanfeng Group Huai'an Yuanming Powder Co., Ltd. amounted to CNY 217,644,498.57, with a net profit contribution of CNY 7,697,435.16, accounting for over 10% of the company's net profit[100] - The subsidiary Sichuan Tongqing Nanfeng Co., Ltd. reported total assets of CNY 266,175,578.66 and a net profit of CNY 20,001,491.56, significantly contributing to the overall profitability of the group[100] - The subsidiary Yuncheng Nanfeng Material Trade Co., Ltd. generated operating revenue of CNY 286,294,502.81, with a net profit of CNY 4,055,887.17[100] Cash Flow and Financial Management - Operating cash inflow decreased by 6.20% to 900,550,949.86 CNY, while operating cash outflow decreased by 5.20% to 901,541,256.96 CNY, resulting in a net cash flow from operating activities of -990,307.10 CNY, a decline of 110.79%[81] - Investment cash inflow surged by 1,441.97% to 376,194,530.00 CNY, leading to a net cash flow from investing activities of 362,529,282.25 CNY, an increase of 15,197.31%[81] - Financing cash inflow increased by 20.07% to 835,050,000.00 CNY, while financing cash outflow rose by 26.89% to 1,233,262,737.87 CNY, resulting in a net cash flow from financing activities of -398,212,737.87 CNY, a decrease of 44.06%[81]